MicroStrategy (NASDAQ:MSTR) Stock Price Down 11.4% Following Analyst Downgrade

MicroStrategy Incorporated (NASDAQ:MSTR)’s share price was down 11.4% during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $1,810.00 to $1,590.00. Canaccord Genuity Group currently has a buy rating on the stock. MicroStrategy traded as low as $1,145.88 and last traded at $1,146.01. Approximately 516,590 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,105,026 shares. The stock had previously closed at $1,292.97.

Several other analysts also recently weighed in on the company. BTIG Research boosted their target price on MicroStrategy from $780.00 to $1,800.00 and gave the company a “buy” rating in a report on Friday, April 5th. TD Cowen reduced their price objective on MicroStrategy from $1,560.00 to $1,450.00 and set an “outperform” rating for the company in a research note on Wednesday, March 20th. Benchmark restated a “buy” rating and set a $1,875.00 target price on shares of MicroStrategy in a research report on Thursday, April 25th. Finally, StockNews.com upgraded shares of MicroStrategy to a “sell” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,678.75.

Insider Buying and Selling at MicroStrategy

In other news, Chairman Michael J. Saylor sold 5,000 shares of MicroStrategy stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $513.83, for a total value of $2,569,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Phong Le sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $861.24, for a total transaction of $8,612,400.00. Following the completion of the sale, the chief executive officer now owns 595 shares of the company’s stock, valued at approximately $512,437.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael J. Saylor sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $513.83, for a total transaction of $2,569,150.00. The disclosure for this sale can be found here. In the last three months, insiders sold 112,452 shares of company stock worth $120,206,247. Insiders own 13.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of MicroStrategy by 22.6% during the 3rd quarter. CWM LLC now owns 369 shares of the software maker’s stock valued at $121,000 after buying an additional 68 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of MicroStrategy by 12.3% during the third quarter. Commonwealth Equity Services LLC now owns 13,230 shares of the software maker’s stock valued at $4,343,000 after purchasing an additional 1,454 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of MicroStrategy by 5.5% during the third quarter. Pinnacle Associates Ltd. now owns 2,752 shares of the software maker’s stock worth $903,000 after purchasing an additional 143 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in MicroStrategy by 3.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,674 shares of the software maker’s stock valued at $878,000 after purchasing an additional 99 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in MicroStrategy by 37.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 959 shares of the software maker’s stock worth $315,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 72.03% of the company’s stock.

MicroStrategy Stock Down 11.6 %

The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 41.73 and a beta of 2.89. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average price of $1,363.08 and a two-hundred day moving average price of $820.38.

MicroStrategy (NASDAQ:MSTR) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $5.62 earnings per share for the quarter. The firm had revenue of $124.48 million during the quarter, compared to analyst estimates of $134.90 million. MicroStrategy had a return on equity of 42.81% and a net margin of 86.47%.

About MicroStrategy

MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions.